$100 million to unlock potential of Whenua Māori
- News and announcements
The Provincial Growth Fund will invest up to $100 million to help unlock the full economic potential of Whenua Māori (Māori owned land). The announcement was made today by Prime Minister Jacinda Ardern at Otamatea Marae.
The funding will enable Māori land-owners to access capital to progress projects which are investment-ready and will ultimately support moves towards higher value land use.
Research released in 2013 found approximately 80 per cent of Māori freehold land was underutilised or unproductive. Modelling of the impact of bringing this land into primary sector production and increasing its productivity showed significant economic benefits, including jobs.
Regional Economic Development Minister Shane Jones, who joined the Prime Minister for the announcement, said that investing in Māori landowners through the PGF would enable long-term, sustainable and inclusive regional economic growth.